Will Dogecoin Price surge to $1 on 8th May? Everyone who is in cryptocurrency is asking the same question over and over again. This all is happening after Tesla owner, Elon musk’s tweet which was done in the context of a comedy show. Yes, it is all about a comedy show. Elon musk will host Saturday Night Live, a weekly comedy show on 8th May with Miley Cyrus as a guest. His actual tweet on 28th April was, “The Dogefather SNL May 8”. I think they will do something about Dogecoin on the show as we can guess from the tweet but investors who are in Dogecoin trading get pretty excited about the Dogecoin Price on May 8, all because of a tweet.
Dogecoin Price History
It is really interesting that we are talking about the 8th May Dogecoin Prediction, the same cryptocurrency which was started as a joke in Dec 2013 by Billy Markus and Jackson Palmer. It has a picture of Shiba Inu and got its name from the ‘doge’ meme. It is really looking like a success story of Harshad Mehta as its market capitalization is $40 billion as of 16th April of this year.
Reasons For Dogecoin Price Hike
In the case of cryptocurrencies, a hike happens when there is any update in the system or more businesses are using crypto as a payment method, but in the case of Dogecoin, the surge happens with the tweets of Elon Musk. He has been supportive of cryptocurrencies and his tweets have really played an important part in Dogecoin’s surge. At the beginning of this year, Dogecoin was trading below a cent and now it is trading around $0.54 which is mind-blowing, plus we are also talking about the 8th May Dogecoin Prediction. Other celebrities like Snoop Dogg and Gene Simmons have openly shared their views on Dogecoin.
Dogecoin Use Coming Mainstream? Which Brands are Supporting?
The Kessler Collection, a luxury hotel group announced that it will use Dogecoin as a payment method. Adult Film site, PornHub also accepts Dogecoin as a payment method. Restaurants like Strange Donuts, STEEM, BitBurgers, Salts Worldwide, and Grocers have started the use of Dogecoin as a payment method. There is a number of companies, hotels, and restaurants that are accepting this change of method. The reason which is behind this huge success of Dogecoin can also be its low transaction fees, and that was the whole idea behind the invention of the same.
8th May dogecoin Prediction
So, what will be the 8th May Dogecoin prediction? See, it’s very hard to say what the price of Dogecoin will be on or by a particular day as it is extensively volatile in nature. Some investors are predicting that it will touch the $1 mark by the end of this year but some predict that it will trade below $1 even during the year 2022. But we are talking about Elon Musk’s comment and it will be very interesting that what will be the price of Dogecoin on May 8th which will tell us about the true power of Elon Musk’s words.
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